What’s BitShares really worth?

taskmaster4450 (78) · 7 years ago

Well your projections are a bit below @haijin who has a price of $340 on it.

I picked up some last week and am looking into it to possibly add more. Decentralized platforms have a great deal of potential. I think the more publicity of government threats of banning cryptos means that an exchange like Bitshares has a ton of potential.

What is your 411 on Bitshares?

$1.65

cryptographic (64) · 7 years ago

I agree with you 100%. It's a great business, and I'd want to invest even if it weren't crypto . . . but, not so ironically, it wouldn't be possible if it weren't. 😆

One of the best investments any of us will ever see.

$1.67

taskmaster4450 (78) · 7 years ago

Wow that is a helluva statement. I take it your view is to load up all you can.

So far what I am reading is that any token (that they service) can be traded in bitshares regardless what exchange they are in as long as it is one on the blockchain. So blocktrades and even coinbase can be used to seamlessly move from currency to currency...and no commission fees.

Is my understanding thus far correct?

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cryptographic (64) · 7 years ago (edited)

No, I don't think that's the case, but I could be wrong. Coinbase is a very separate entity, and I think you've got some hefty spreads to deal with with Blocktrades even if they don't have a fee. Coinbase is a good way to convert fiat to crypto, and from there I'd go to a traditional exchange to convert your BTC to BTS and then transfer to BitShares. The same goes for anything you might already have in DASH, DOGE, ETH, LTC, SBD, STEEM or USDT that you might be looking to convert to BTS - make the trade first, then transfer and pay a 5 BTS tx fee.

That having been said, I'm not an expert and I could be wrong. Please let me know about anything you come across that may help me get better informed. @ash is an expert on the subject who might be able to help out. Let me know what you confirm too. TIA

BitShares is still very young, needs a lot of improving done with respect to onboarding, needs to start adding more trading pairs, etc., but I'm confident they're moving in the right direction, and that's what makes it such a great investment. If anyone is going to get the job done, it's BitShares!

BTW, once you're on, then you've got seemless trading between various fiat proxies for the same commission cost as any of the other cryptos listed. That's extremely interesting should we ever see ourselves inside a crypto bear.

$0.82

taskmaster4450 (78) · 7 years ago

Thank you @cryptographic.

You have my interest peaked to the nth degree. I will spend my time looking into it. I know you looked at a lot of blockchains/tokens and it seems you are higher on this than almost everything else you came across. To me , that says a lot.

Plus, I know he uses technicals but Haijin is putting a $340+ figure on BTS before the entire bull run is over. Decentralized exchanges have to be the future and being one of the first ones in has to have its advantages.

I will look through @ash posts to see what I can uncover.

Thanks again for all your help and the 411.

$1.42

kouba01 (81) · 7 years ago

I have been on cryptocurrencies for a while and I honestly say that Bitshares is the most interesting technology out there. The only thing stopping it from becoming huge is that its so complete that its hard to understand at first but once you get it your mind is blown away!

$1.58

cryptographic (64) · 7 years ago

That sophisticated interface draws a lot of criticism that I think is unfair mainly because of the fact that it's not easy nor advisable to try to dumb down something that is inherently and necessarily complicated. Everything has its learning curve, and as you say, once you get the hang of it, it's really quite easy. By the way, it's nothing more complicated than any other traditional exchange either. It is what it is - there's no taking away the fact that it's an exchange, and in this case, a damned good decentralized one too! And with ZERO counterparty risk!

$1.52

toofasteddie (70) · 7 years ago

Frankly, I don't see that number to be unreachable for BTS if developers works towards developing their apps as DEX

$1.55

cryptographic (64) · 7 years ago

It'll get there, sooner or later. BitShares has some very talented people working on it at all levels. 🙂

$1.49

madushanka (74) · 7 years ago

Frankly analysed comparison chart of cryptocurrencies in decentralized platform. I agree with your content sir. Look at this chart. lot of transactions done per second of Bitshares .Also low cost spend for per transaction. Also blockchain length and usage high more than others. Excellent conversation.
Resteemed

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pandorasbox (59) · 7 years ago

If Bitshares wants to make it big, it should do a rebrand.

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cryptographic (64) · 7 years ago

I know there's talk about this and I must say that I couldn't disagree more. I think BitShares sums up what BTS is better than anything else possible. "Bit" from the same genesis as the "Bit" in Bitcoin, and "Shares" to represent exactly what each shareholder owns. It's more than just a coin! That could be a new slogan. New slogans, marketing campaigns, etc., are all good for me, but the name is already perfect. Why would you want to change that?

$0.73

3 votes

pandorasbox (59) · 7 years ago

The name makes sense, I agree, but it just doesn't sound marketable to me. It sounds boring.
I think it's too bland and confusing for the average joe, who's only just able to wrap his head around Bitcoin. 'Shares' sounds even less like 'money' to newcomers, and face it, we're still at the stage where 'digital money' is what most people crypto think is. I think I read somewhere that HyperLedger or somesuch name is proposed, and I think that's a better idea for the DEX itself.

The shares part I would ignore completely in terms of marketing.. just move that to the back-end group of users who are versed enough in the platform to participate in that part. I see it more as an extra feature rather than the main thing that needs to be promoted. The strongest point Bitshares has, IMO, is the fact it's a DEX, and I think it should focus on that primarily.

$0.76

cryptographic (64) · 7 years ago

HyperLedger sounds even less like money - sounds like accounting, and that's about as boring as things can get.

"Shares" on the other hand are what stock market investors and traders are familiar with, and they have a pretty sexy connotation - people generally associate them not just with money, but also with making money!

$0.77

pandorasbox (59) · 7 years ago

Sorry I think I was mistaken, the suggestion was HyperDEX, not HyperLedger (which is something else entirely). But yeah, I think the DEX part of Bitshares is the most important to market. The governance system really is not the most important part of most crypto's (on the front end anyway). And the decentralized exchange part is pretty easily understood these days, and it's purpose of exchanging money. Mind you, the biggest thing that's tradeable on Bitshares is (imo) Bitcoin, and not BTS. Trading Bitcoin is what draws people to Bitshares/OpenLedger, the Bitshares themselves may be what makes them stay but first they need to be there.

I mean, theoretically NEO is called 'NEO shares' too, but I'm pretty sure that if it were listed as 'NEOShares' everywhere it would have been less succesful (see: Antshares)

It's a simple marketing matter: Do you want to appeal to stock market investors, or the 'big audience'? If it's the latter then the marketing shouldn't be aimed at stock market people. If it IS stock market people, well... I'm not sure there's too much chance for succes because stock market people aren't all that much into non-main Crypto's and in fact I believe most Bitshares users are more like tech-savvy types than stock-market types.

Also, tech-savvy types are notoriously bad at designing UI and effective marketing, so it really does fit the current picture of Bitshares :D

$0.58

cryptographic (64) · 7 years ago

Do you want to appeal to stock market investors, or the 'big audience'?

Stock market investors are the big audience . . . at least when referring to people who have money to invest.

most Bitshares users are more like tech-savvy types than stock-market types

Without a doubt, like all crypto, until now, and if you don't want to die on the vine, you'll need to broaden your scope, and if your business is facilitating a live auction process, that is to say, acting as an exchange, that means targeting the investment and trading market.

Also, tech-savvy types are notoriously bad at designing UI and effective marketing

That's what partnering is all about - the tech savvy types do what they do best and the marketing/business types do what they do best.

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pandorasbox (59) · 7 years ago (edited)

It all sounds too rationally minded to me. Marketing doesn't work on ratio though. Just look at the iPhone. Open source programmers would've never chosen that name. They probably would have chosen a more rational, descriptive name, something like 'DigiDevice'.
.
Stock market types are the big audience yes, but they want what the public want because those stocks go up. Not because the name appeals to them. See again Apple's iPhone example. The public wants it, investors anticipate on it. As long as the public wants it, investors will come.

As most major investors are fearful of touching Bitcoin in today's world, even on fairly safe exchanges like GDAX, they're never going to touch BTS unless the public chooses it first as it's champion. As has happened with Bitcoin. Now we need them to choose Bitshares, but apparently they're not doing it right now.

He who controls the mob, controls Rome.Get the mob, the investors will follow. And sadly, the mob has basic instincts which require more flash.

$0.39

https://twitter.com/kevinmesserly/status/920405301370683393

cryptographic (64) · 7 years ago (edited)

This is probably where our differences of opinion stem from. I agree with you that BTC was first adopted by tech types, and then some everyday average Joe's, but now there is undeniable huge institutional interest in BTC, and this is where our opinions diverge I believe: crypto is currently being taken over by professionals, by big money, and there is no going back. What that means is that the survivors will be those sought after and supported by big money.

The public loves the iPhone precisely because of its catchy name, and, of course, because it is the product of a stock market darling. To be sure, it’s a chicken or the egg argument, but one thing’s for sure, in general, once big smart money is involved, if you don’t have it on your side, you’re going nowhere.

If BitShares is going to survive, it must not only target that market, it must also to cater to it just as it expects to be catered to, (i.e. top notch product delivery with a catchy sounding, easy to remember name.)

Edit: the mob often ends up in its own guillotine, especially when it comes to investing - they usually don't have a clue about long term survival.

kimchi-king (55) · 7 years ago

I'm glad you liked the HyperDEX idea. I came up with that a few weeks ago.

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3 votes

cryptographic (64) · 7 years ago

IMO, HyperDEX sounds heavy metal, over active, blunt and harsh, leading to a subconscious association with a cement wall dead end that collapses on you.

It doesn't hold a candle to BitShares, which rolls off your tongue in a delightfully catchy manner in just 2 wonderful syllables, leading to subconscious association with a continuously inclusive plurality on an endless road to the future.

pandorasbox (59) · 7 years ago

Yeah! DEX is a hot topic these days and will draw enough attention to it. 'Hyper' makes it sound flashy, which is good too.

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arpepa (36) · 7 years ago

In short: Bitshares is 1) Secure wallet and 2) decentralized exchange. Both.

tonypeacock (57) · 7 years ago

I with you man - Bitshares is very undervalued :)

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3 votes

gold84 (63) · 7 years ago

@cryptographic this is a great comparison, and trully believe steem and bitshares have this big potential you are showing. Great chart too. @gold84

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black35 (49) · 7 years ago

verry interesting post..thanks for sharing

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blazing (70) · 7 years ago

bitshares looks a good contender

mintu13 (52) · 7 years ago

nice info...thanks for sharing your info

theguruasia (67) · 7 years ago

@cryptographic,
You are absolutely correct! One more thing BTS is really faster than BTC! As Stan said once! It's a highway when compare with BTC transaction speed! So, you always comes with great analysis report! Totally amazing work friend!

Cheers~

funkit (60) · 7 years ago

@stan repeatedly says 333.

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https://steemit.com/bitcoin/@g-dubs/checking-out-decentralized-exchanges-bitshares-bts

cryptographic (64) · 7 years ago

Nice concise write-up here.

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